## **ANNUAL REPORT OF THE WARE CHARITIES FOR THE YEAR 2021-22** The trustees are pleased to present the report of The Ware Charities for the year 1st April 2021 to 31st March 2022 incl. ## **Trustees and Officers** The present Charity Scheme provides for five co-opted trustees (five in post at 1 April 2021) and five trustees nominated by local councils in the area of interest (Ware (2), East Herts, Wareside and Thundridge), together with a Treasurer and Administrator appointed by the trustees as Officers of the Charity. Mrs Stella Beavis (representing Wareside Parish) resigned her trusteeship at the June 2021 meeting, as she was moving away from the area. Wareside Parish Council has been asked several times to nominate a replacement. This had not happened by 31 March 2022. All other trustees remained in place during the year and attendance by all at the Charity’s meetings was satisfactory. Mr Valdis Belinis took up the role of Treasurer for the Charity with effect from 1 April 2021, taking over from Mrs Sue Newman. Mr Belinis instituted a number of investigations during the year to illustrate areas of need within the community, which was helpful and much appreciated. Thanks are due to all our Trustees and Officers for their support to the Charity, all of them doing so as volunteers. ## **Charity Strategy and Structure** During the year a subcommittee of Trustees and Officers commenced a review of the current operations and forward direction of the Charity, producing a PESTLE and SWOT analysis and list of necessary policies required by the Charity going forward. Subsequent to this a new subcommittee has commenced a business strategy review, to envision what the Charity should aim to achieve going forward, in a constantly changing economic and welfare environment. Better publicity and more wide ranging access to its assistance for those struggling with real poverty in the area of benefit is required. The Charity’s present Charity Scheme is now largely redundant, following the sale of the two properties previously rented to tenants in need. The Charity’s status needs to be revised and updated, probably via a new Charitable Incorporated Organisation (CIO) (foundation model) trust structure in accordance with Charity Commission best practice. This may be progressed in 2022/3. ## **Property** ## 45 and 47 Park Road These two properties, being beyond economic repair, were placed on the open market in February 2021 and each was sold by 1 December 2021, for values in line with best estimates from several local estate agents. Apart from realising their capital value, the sales brought to an end a longstanding drain on the Charity’s accounts from double Council Tax, insurance and ongoing utility services standing charges on buildings which had stood empty for some years. ## 75 High Street The Charity’s application for planning permission for the conversion of this property to a retail unit (ground floor front) and five self contained flats was open throughout the year. Appropriate pressure was maintained on the Planning Authority (East Herts District Council) through the year by both our Property Trustee and retained architect. Questions about the building’s heritage and the need for an acoustic survey caused some delay, as did an objection from a tenant of the neighbouring retail property. Our application is progressing and we hope to have permission for redevelopment in 2022/3 financial year. ## **Grants made during the year 2021-2022** All grants were made in accordance with the Scheme under which the Charity presently operates. The trustees are aware of the need to assist as many applicants as possible and consider all applications carefully and sympathetically, having due regard to the provisions of the Governing Scheme and general Charity Law. All applications for individuals must be supported by a sponsor in an appropriate organisation and grants are always made to the service provider, never directly to the applicant. The trustees distributed £31,466 in grants, compared with £27,755 last year. As in previous years the largest single recipient was East Herts Citizens Advice (£17,934), which continues to advise and support people in need throughout East Herts, our contribution reflecting proportionately The Ware Charities' area of benefit. The number of personal beneficiaries this year was 23 against 19 last year. As stated above the trustees are actively seeking ways to make our presence better known, as the current level of requests for help do not square with our perception of needs of the community in a time of crisis. ## **Financial Position** The Ware Charities’ financial position remains secure overall: during the year the value of the Charity’s current asset investments increased by £144,513.88. The sale of our Park Road properties yielded a net £493,031, adding £409,031 (net sale price less £90,000 2020-21 valuation) to our funds. The bulk of this income (£460,000) was placed in various of the Charity’s existing investment funds to increase annual yield, and the balance of £33,031 was added to the current account, which at the end of the financial year amounted to £62,338.40. Dividend income from our investments increased from £46,071.00 to £51,731.24. Trustees held one meeting with an Independent Financial Adviser with experience of the charity sector, to confirm whether its current investment arrangements were considered appropriate. This was confirmed. A further review will take place once a decision has been taken on the future of the Charity’s High Street property and following agreement to the Charity’s forward business strategy and direction. As last year, income from the charity's investments reduced further as a result of lower interest returns, and NIL income from property rental. ## **Conduct of the Trustees and their Officers** The Trustees held four ordinary meetings at three-monthly intervals, together with meetings of various approved subcommittees to prepare items for trustee approval. Attendance at all trustee meetings was excellent and each meeting was in excess of quorum. No complaints were received as to the conduct or behaviour of the current Trustees or Officers of the Charity, nor are we aware of any complaint or grievance being made by any other interested party. signed on behalf of the Trustees of The Ware Charities Gordon Dawes Chair of Trustees Date Jane Pickering Administrator Date **WARE CHARITIES - No. 225443** ## **INCOME & EXPENDITURE ACCOUNT** **FOR THE YEAR ENDED 31 MARCH 2022** |**Income**
Dividends
Rents
Bank Interest
Other Income
Profit on the sale of Almhouses
**Total Income**
**Expenditure**
Management
Professional Fees
Insurance
75 High Street - Planning
75 High Street - Utilities
Almshouses
Almshouses - Council Tax
Almshouses - Water Rates
Office and Sundries
Total Management
Donations
East Hertfordshire Citizens Advice Service
Jedidiah
Hertfood
Individual Grants (23)
Total Donations
**Total Expenditure**
Excess of Income over Expenditure|**2022**
£51,731.24
£90.00
-
£120.00| |---|---| ||£403,031.00| ||**£454,972.24**| ||£660.00
£5,896.99
£7,170.00
£414.30
£1,862.79
£3,572.14
-£363.89
£285.55| ||£19,497.88| ||£17,934.00
-
-
£13,532.00| ||£31,466.00| ||£50,963.88| ||£404,008.36| **2021** £46,071.00 £270.00 £25.00 - **£46,366.00** £660.00 £4,290.00 £25,076.00 £368.00 £7,128.00 - - £150.00 £37,672.00 £8,414.00 £1,500.00 £1,000.00 £16,841.00 £27,755.00 £65,427.00 -£19,061.00 WARE CHARITIES- No. 225143 REPORT OF THE INDEPENDEivf EXAMINER TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 I report on the Accounts of the Trust for the Trear ended 31 Ma￿h 2022 which are attached. Respective Respousibilities of Trnstees and Independent E￿Miner The Charity's trustees are responsible for the preparation of the a¢counts. The Charity's trustees consider that an audit is not required for this )'"car under section 144{2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is m). responsibility to examine the accounts under Section 14) of the 2011 ACL to follow the pr(KeduTes laid doivn in the g¢n¢ral Directions given by the Charit), Commission under Section 145 (5Xb) of the 2011 Act and to state whether particular matters haN'¢ wm¢ to mv attention. Basis of Independent Examiner's Report My e￿￿lInatiOn was carried out in accordance ivith the general Directions given by the Charity Commission. An examination includes a rei'"ieii" of the accounting records kept bv the ¢harity" and a comparison of the accounts presenied ￿'1th those records. li also includes consideration of any unusual items or disclosures in the accounts, and seekino explanations from vou as trustees concerning any such matters. The procedures underraken do nol provide all the evidence t]￿t would be required in an audil and consequ¢ntl>" no opinion is given as to Hthether the accounts present a 'lrne and fair view" and the report is limiEed to those matters set out in the statemeni beloTh'. Independent Examiner's Statement In wnnection with my examination. no matter has come to my attention: which oives me reasonable cause io believe that in any material respect the requirements to keep accounting records in accordallce with section IJO of the ?01 l Act, and to prepare accounts which accord with the accountin(F records and compl> ivith the accounting requirements of the 2011 Act have not been meL 2. to which: in m), opinion. attention should be drawn in order io enabl¢ a proper understanding of the accounts to be reached. Roger Celia FCA 23 Lodge Close Hertford. SG14 3DH. Date: 2nd June 2022 WARE CHARMES. No. 225443 BALANCE SHEET AT 31 MARCH 2OZ2 2022 2021 Fixed Assets At Cost Almshouses, 45147, Park Road, Ware SG12 0 Business Premises. 75. High Street, Ware. SG12 9AD £0. £225.(W.00 £￿,[￿)0. £225,000.00 Totsl £225 rMx).cKI £315 CXJO.00 Current Assets At Market Value COIF Charities Investment Fund Income Un5 8KL Charrknes UK Equity Fund A Income Unrts SUTL Cazenove Charity Equity Fund A Income Units COIF Chartknes PropeTty Fund Income Units COIF Charitie5 Ethical Investment Fund Incorne Units COIF Charities Fixed Interest Fund Income Units Lloyds Banking Group PIC Ordinary Shares £1.260,J53.39 £225.584.45 £225.594.70 £227.022.10 £98.140.44 £43,431.67 £780.03 £827.662.lYO £209.481.00 £195,089.0 £145.514.00 £65,523.00 £32,236. £689.00 £2.IJ80.706.78 £1.476,194.00 COIF Charities Deposit Account National Westminster Bank PIC Account £162.06 £62,338.40 £14,161.00 £14.330.00 Total £2.143,207.24 £1.504,685.00 Total Assets £2,368.207.24 £1.819,685.00 Attumvlated Fund Brought Forward EX￿$S of Income over Expenditurè 12021 Expenditure over Income) £1,819.685.00 £404.1J)8.36 £1,601,395.00 -£19,061.00 £2.223,693.36 £1,582.334.(KJ Increase in value of Current Asset Investments £144,513.88 £237,351.00 Carried Forward £2,368.207.24 £l,819,685.Q￿l Signed ChaSman 1 st June 2022 1st jul￿ 2022 Signed TTe8surer <((J(oi4 WARE CHARMES. No. 225443 INCOME & EXPENDITURE ACCOUP FOR ThE YEAR ENDED 31 MARCH 2022 2022 2021 In¢ome Dividends Rents Bank Interest Other Income £51.731.24 £90.00 £46.071.00 £270.00 £25. £120.00 Profit on the sale of Almhouses Total Ineome £403.031.00 £454.972.24 £46.366.(M) enditure Man Professional Fees Insurance 75 High Street- Planning 75 High Street- Utilityes Alr￿hOUse5 Almshouses- Council Tax Almshouses- Water Rates Office and Sundries ement £660.(XI £5.896.99 £7.170.C £414.30 £660.CK) £4,290.00 £25.076.00 £368.00 £1.862.79 £3,572.14 -£363.89 £285.55 £7,128.00 £150.00 Total Management £19.497.88 £37.672.00 Donations East Herttordshire Citizens Adwce Service Jedidiah HertFood Individual Grants1231 £17.934.IXI £8,414.(k) £1.500.00 £i,000.OLI £16.841.00 £13,532.00 Total Donations £31.466.tM) £27,755.00 Totsl Ex enditu £50.963.88 £65,427.00 Excess of Income over Expenditure £404.IM)8.36 .£19,061.00